Course Dates: September 5-8, 2018
Required Book: “After the Music Stopped: The Financial Crisis, the Response and the Work Ahead” by Alan Blinder
Recommended: “House of Debt” by Atif Mian and Amir Sufi
Thursday, September 6
Speaker: Charles M. Jones, “Treasury Securities” and “Credit Markets”
Required: Investing in Bonds put together by SIFMA, the trade association of the major bond dealers. (Click on “Learn More” on the right side of the homepage to find a table of contents that runs down the left-hand side and work your way through all of the material.)
Recommended: Chapters 1, 3, 5, 10, 11, 18, and 19 from the 3rd edition of “Fixed Income Markets and Their Derivatives” by Suresh Sundaresan. (Available online through PUL, harcopies at the Stokes Library. Check the PUL catalog.)
Friday, September 7
Speaker: Michael Johannes, “Mortgage Market” and “Derivatives”
Required: A series of articles that appeared in the Wall Street Journal prior to the financial crisis.
Recommended: Comradely capitalism- How America accidentally nationalized its mortgage market (The Economist)
“Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon,” by Morgenson and Rosner (2011).
Speaker: Atif Mian, “Financial Crises”
Required: Video Lecture of Atif Mian’s Nobel Symposium Talk (video - 25 minutes)
Recommended: The Credit-Driven Household Demand Channel (Paper presented at the Nobel Symposium 2018)
Saturday, September 8
Speaker: Amber Baldet, Cryptocurencies
Recommended: Cryptocurrencies: looking beyond the hype (video - 3 minutes)
Required: Modern slavery, banking, and money laundering (video 5 minutes)
Are Global Banks Cutting Off Customers in Developing and Emerging Economies? (World Bank)
Credit Rating Agency Reform is Incomplete (Alice M. Rivlin and John B. Soroushian, The Brookings Institution)
Recommended: Financial Regulation: Complex and Fragmented Structure Could be Streamlined to Improve Effectiveness [two page highlights], U.S. Government of Accountability Office
Visualization of Financial Activities Pre- and Post-Dodd Frank (Bipartisan Policy Center)
A decade after the crisis’ first tremor, are we ready for another? (David Wessel, The Brookings Institution)
Markus Brunnermeier’s video series on “Money and Banking”
Uncorking CDOs (Collateralized Debt Obligations (Paddy Hirsch, American Public Media, 6 minutes)
Getting Naked in Short-Selling (Paddy Hirsch, American Public Media, 7 minutes)
MOVIES: “The Big Short” (140 minutes) and the documentary “Inside Job” (109 minutes).
OTHER BOOKS AND ARTICLES OF INTEREST
Michael Lewis, “The Big Short: Inside the Doomsday Machine”
A Reader’s Guide to the Financial Crisis (A very good summary of academic work on the crisis.)
- What is investment banking?
- A Decade After the Crisis – what have we learned?
- Global Financial Crisis (Articles from the Financial Times)
- Economics and Policy in the Age of Trump
- Did Policymakers Get Post-Crisis Financial Regulation Right? (Bipartisan Policy Center Regulatory Reform Initiative)
- Bank for International Settlements
- Office of Financial Research – US Treasury